The LegalTech Ecosystem in Wales

Delio was named both Fintech Exporter of the Year and Fintech Company of the Year in the 2022 Fintech Awards Wales 291 : Delio has expanded rapidly to become one of Wales’ fastest growing companies. Its highly configurable technology is used by more than 90 of the world’s most respected financial institutions to digitise and streamline their private markets propositions. From Delio’s head office in Cardiff, the FinTech now serves clients in Europe, Asia, the Middle East and North America, including the likes of Barclays, Sumitomo Mitsui Trust Bank and ING. 292

AMPLYFI 293 Founded in 2015 by Chris Ganje and Ian Jones 294 , AMPLYFI provides AI services to support market research and business intelligence, generating insights from business data, as well as through the monitoring of internal data and internet sources:

AMPLYFI was founded in 2015 and has expanded rapidly across Europe, the US and Asia, raising millions in VC, acquiring rival services and attracting over 50 PhDs, engineers and team members to service dozens of blue-chip clients. AMPLYIFI’s Insights Automation Platform can “read & analyse” millions of documents a day, powering thousands of decisions though even the most disruptive market conditions. 295 In 2020, AMPLYFI announced the multi-million dollar acquisition of Deep Web Technologies, a US based company, strengthening its international expansion. 296 The company was also able to secure a 5 million USD growth investment round led by QBN Capital. 297 Frank Tong, Managing Partner at QBN Capital commented: With their deep expertise in machine learning and NLP, AMPLYFI combines structured and unstructured data, turning it into powerful insights, giving business leaders access to the most meaningful and relevant information and enabling them to make better decisions. QBN is excited 291 FinTech Finance News, “Delio achieves award successes at Fintech Awards Wales 2022” (10 October 2022), available at https://ffnews.com/newsarticle/delio-achieves-award-successes-at-fintech-awards-wales-2022/. 292 Ibid. 293 See https://amplyfi.com. 294 Chris Pyke, “The two tech firm founders who hope to have created Wales’ first $1bn business” (Business Live, 6 July 2021), available at www.business-live.co.uk/enterprise/two-tech-firm-founders-who-20982707. 295 Amplyfi, “About”, available at https://amplyfi.com/about-us/. 296 Amplyfi, “Wales-based AMPLYFI acquires Deep Web Technologies, to help companies unlock deep web data” (4 February 2020), available at https://amplyfi.com/2020/02/04/wales-based-amplyfi-acquires-deep-web-technologies-to-help-companies- unlock-deep-web-data/. 297 Duncan Gray, “AMPLYFI lands USD 5m for AI platform that analyses the world’s structured and unstructured data” , (Development Bank Wales, 3 April 2020), available at https://developmentbank.wales/news-and-events/amplyfi-lands-usd-5m- ai-platform-analyses-worlds-structured-and-unstructured-data.

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